• Proxies During a Pandemic: Using Data Analytics to “See Around Corners"

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Proxies During a Pandemic: Using Data Analytics to “See Around Corners”

In the midst of the COVID pandemic turmoil, retailer CVS knew they couldn’t rely on historical data for future planning. So they turned to WorldQuant Predictive (WQP) and their multi-disciplinary Global Research Network. Using AI and ML tools on WQP’s proprietary platform, the WQP/CVS team looked at +50 disparate, open-source, alternative datasets. Through an iterative process they quickly generated a customized predictive model for CVS’s business.

One of the surprising sources for predictive datasets was Zillow. Not previously associated with modeling, it turned out to be the best proxy and uncovered a hidden alpha signal that helped CVS predict future consumer behavior. This proxy data predicted store sales to within ±2% accuracy. Zillow data was also used to create early warning indicators.

The takeaways can be extended to many common prediction problems crucial to retailers. In this webinar, you’ll learn how your organization can use this approach for a competitive edge during COVID and beyond.

Moderated by Alex Woodie:

Alex Woodie is the Managing Editor of Datanami, which covers data-intensive computing in research and enterprise and provides expert commentary on an ongoing basis around analytics and software for managing “big data” problems.  Alex brings extensive experience from the IBM midrange marketplace, including topics such as servers, ERP applications, programming, databases, security, high availability, storage, business intelligence, cloud, and mobile enablement.

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Our Panel

Jim Golden is the CEO of WorldQuant Predictive, a technology-enabled services company, reimagining data science and AI for prediction. WorldQuant Predictive creates accurate predictions through improved signal detection and modeling. We start by framing critical business challenges as prediction problems, and solving them by leveraging the latest advances in data science, artificial intelligence and machine learning.

Jim previously served as a Senior Managing Director for PwC’s Healthcare Advisory group, focused on technology, data and analytics strategy, and development. His work focused on identifying and utilizing new data sources, technologies and analytics methods for PwC’s clients to help drive decision-making and optimize business practices. Prior to PwC, he was Chief Management Scientist and Partner at Accenture, and Chief Technology Officer of SAIC’s commercial life science practice. He has a B.S. in mathematics and computer science from Rhodes College, Memphis, TN; an M.S. in computer science from the University of Tennessee Space Institute in Tullahoma, TN; and holds a Ph.D. in mechanical engineering from Vanderbilt University.

James Golden, Ph.D.CEO, WorldQuant Predictive

Taras Gorishnyy is currently leading the data and analytics organization for CVS Retail Pharmacy and Front Store business. He is responsible for developing and deploying analytics solutions for Marketing, Supply Chain, Patient Safety, Health HUBS, Minute Clinic, Clinical Trails and other functional areas.

Before joining CVS, Taras spent 12 years at McKinsey & Company, building their data science practice and advising clients in healthcare, retail, CPG and telecom industries on a wide range of data and analytics challenges.

Taras holds a Ph.D. in engineering from MIT, an M.S. in engineering from University of Nebraska, and a B.S. in physics from Precarpathian National University in Ukraine. He has published 15 scientific articles in top tier international peer review journals, with 1,500+ citations to dat

Taras Gorishnyy, Ph.D.Vice President, Enterprise Retail Analytics, CVS

Robert’s Molnar’s mission at WorldQuant Predictive is to lead the integration of proprietary technologies, unique data and a multi-talented research team to deliver accurate forecasts and predictions to executives in the retail and consumer goods verticals. His core domain expertise is in pricing, promotion and assortment optimization.

Prior to joining WorldQuant Predictive Robert ran his own consultancy, serving clients in the Nordics, while heading the Advanced Analytics branch of a Danish consulting firm. His experience also includes numerous projects at McKinsey & Co. and other boutique consultancies.

Robert holds a bachelor’s degree in economics and marketing from the Bucharest University of Economic Studies, a master’s degree in Statistics from Renmin University of China, and a master’s degree from the Aarhus School of Business in Econometrics and Quantitative Economics.

Robert MolnarDirector, Predictive Retail & CPG, WorldQuant Predictive